Tesla Vehicle Deliveries Beat Projections

Tesla (NASDAQ:TSLA) delivered 241,300 electric vehicles during the third quarter of 2021, the company reported Saturday.

The quarter’s deliveries topped expectations. Analysts predicted that Tesla would deliver around 220,900 electric cars during this period, according to estimates as of September 30.

The company produced 237,823 cars in the period ending September 30, 2021, Tesla said in its report. Of that, 228,882 were its Model 3 and Y vehicles, its more affordable mid-range offerings.

The remainder produced amounted to 8,941 of its Model S and X vehicles.

Last quarter, Tesla delivered 201,250 vehicles and produced 206,421 cars, even as production of its Model S and X vehicles fell below 2,500.

"Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more," the company said in a statement.

Tesla does not break out delivery numbers by model, nor does it report sales or production numbers from China versus the U.S. (Deliveries are the company’s closest approximation of vehicle sales.)

Tesla put customers through repeated, unexpected delivery delays during the quarter. In their release on Saturday, the company acknowledged the delays, blaming them on "global supply chain and logistics challenges," then thanked customers for their patience.

Tesla is also planning to host its annual shareholder meeting at its plant, now under construction, near Austin on October 7. Musk previously threatened to move Tesla’s headquarters out of California in the spring of 2020 when the state’s COVID-related health orders required Tesla’s Fremont factory to temporarily suspend operations for a few weeks.

TSLA opened Monday trading up $23.19, or 3% to $798.53.